Nano Nuclear Energy to buy US nuclear fuel processing assets from Radnostix; shares rise
NNE•Nano Nuclear Energy and its unit agreed to buy US nuclear fuel processing assets from Radnostix and its unit for $9.5 million in cash and $4 million in Nano Nuclear common stock. Shares rose 2.5% premarket, and the parties expect closing in about 90 to 120 days, subject to approvals and conditions.
1. Asset purchase agreement
Nano Nuclear Energy and its unit, HALEU Energy Fuel, entered into a definitive agreement to acquire US nuclear fuel processing assets from Radnostix and its unit, International Isotopes Fluorine Products. The assets include a US Nuclear Regulatory Commission license, intellectual property and technical materials associated with a previously planned depleted uranium hexafluoride deconversion and fluorine extraction facility in New Mexico. The consideration at closing is $9.5 million in cash and $4 million in Nano Nuclear common stock; the parties expect closing in approximately 90 to 120 days, depending on approvals and conditions.
